It’s no secret that the travel industry is among the sectors that have been affected the most by the COVID-19 pandemic. This pandemic has led to massive revenue and job losses. Businesses that depend on travel have also been affected significantly. Here is a snapshot of how hard the COVID-19 pandemic has hit the travel industry.
Impact of COVID-19 Pandemic on Airlines
Many countries announced travel restrictions the moment the World Health Organization declared the coronavirus a pandemic. Since then, most operations of the major airlines came to a standstill. The global aviation industry has seen its revenue drop drastically. Most airlines have not been making money because their flees have been grounded.
This has also affected the travel industry because people that prefer flying can’t travel. What’s more, businesses like travel agencies that depend on air transport have also been affected. Some have even closed down since the declaration of COVID-19 pandemic.
Impact of COVID-19 on the Hotel Industry
Just like the airlines, hotels have also suffered the same impacts due to COVID-19. Most large hotels that used to host tourists have lost clients and seen a massive drop in revenue. Some have even been forced to lay off some employees. Hotels in major resorts and cities are the most affected.
Effects of Coronavirus on the Cruise Industry
Cruise companies will face a major battle trying to recover from the impacts of this pandemic. Since the stories of ships with infected passengers on board hit the news headlines, many people have avoided cruise travels. As such, the cruise industry has suffered serious losses from the COVID-19 pandemic. And, unlike hotels and airlines, cruise businesses are not eligible for aid because they are not considered as enterprises in countries like America.
Despite these impacts of COVID-19 pandemic on the travel industry, there’s hope at the end of the tunnel. That’s because most countries have reportedly put the disease under control. And, travel restrictions have started to ease in most countries. Thus, there is hope that the travel industry will eventually recover from the impact of the COVID-19 pandemic.